Latest Recessions and depressions News

A woman walks past a personal finance loan office Thursday, Oct. 1, 2020, in Franklin, Tenn.  Consumers, by and large, improved their credit profile during the pandemic. Helped by federal stimulus payments, expanded unemployment benefits, lender relief agreements and a shift in habits, Americans used less credit, paid down debt, made fewer late payments and improved their credit scores. (AP Photo/Mark Humphrey)

Keeping your credit profile healthy during a pandemic

Oct. 23, 2020 7:00 AM EDT

Credit may not be top of mind for many consumers these days. But as the pandemic and its associated economic woes drag on, they may want to give it some attention. COVID AND CREDIT The good news is that consumers, by and large, improved their credit profile during the pandemic, despite record unemployment and...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Oct. 23, 2020. Shares were mostly higher in Asia on Friday after President Donald Trump and his challenger former Vice President Joe Biden faced off in their second and final debate before the Nov. 3 election. (AP Photo/Ahn Young-joon)

Asian shares, US futures gain after last Trump-Biden debate

Oct. 23, 2020 1:50 AM EDT

Shares were mostly higher in Asia on Friday after President Donald Trump and his challenger former Vice President Joe Biden faced off in their second and final debate before the Nov. 3 election. Stocks rose in Tokyo, Hong Kong and Seoul but fell in Shanghai. Sydney's benchmark ended flat. In their debate late...

A for sale sign stands in front of a house, Tuesday, Oct. 6, 2020, in Westwood, Mass. U.S. long-term mortgage rates slipped this week as the key 30-year loan marked a new all-time low for the 11th time this year. Home loan rates have notched a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. (AP Photo/Steven Senne)

US long-term mortgage rates hit new low; 30-year at 2.80%

Oct. 22, 2020 2:31 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates slipped this week as the key 30-year loan marked a new all-time low for the 11th time this year. Home loan rates have notched a year-long decline amid economic anxiety in the recession set off by the coronavirus pandemic. Mortgage buyer Freddie Mac reported...

FILE - In this June 11, 2020, file photo, information signs are displayed at the closed Illinois Department of Employment Security WorkNet center in Arlington Heights, Ill. U.S. employers advertised for slightly fewer jobs in August while their hiring ticked up modestly. The Labor Department said Tuesday, Oct. 6, 2020, that the number of U.S. job postings on the last day of August dipped to 6.49 million, down from 6.70 million July. (AP Photo/Nam Y. Huh, File)

US jobless claims drop to 787,000, but layoffs remain high

Oct. 22, 2020 12:40 PM EDT

WASHINGTON (AP) — The number of laid-off Americans seeking unemployment benefits fell last week to 787,000, a sign that job losses may have eased slightly but are still running at historically high levels. Last week's figure was down from 842,000 the previous week, the Labor Department said Thursday. The...

A pedestrian walks past an empty business available for lease, Monday, Oct. 12, 2020, in downtown Surfside, Fla.  The pandemic and recession are squeezing big apartment building owners, with a surge in vacancies leading to a decline in rent growth for the first time in years. The U.S. vacancy rate for apartments rose to 5% in the third quarter, the highest level in eight years, according to Moody’s Analytics REIS.  (AP Photo/Wilfredo Lee)

Rising vacancies, declining rents squeezing apartment REITs

Oct. 22, 2020 11:00 AM EDT

LOS ANGELES (AP) — The pandemic is squeezing big apartment building owners, with a surge in vacancies leading to a decline in rent growth for the first time in years. The U.S. vacancy rate for apartments rose to 5% in the third quarter from 4.6% a year earlier, according to Moody’s Analytics REIS....

Walz signs $1.9 billion public works package at union center

Oct. 22, 2020 7:09 AM EDT

ST. PAUL, Minn. (AP) — Gov. Tim Walz says the $1.9 billion public works bill he signed into law will improve Minnesota’s infrastructure and ensure that construction crews keep busy as the economy digs out from a recession. Walz went to an Iron Wormers Union training center in St. Paul on Wednesday...

A health officer collecting swab samples from rail commuters to test for COVID-19 drinks water during a break at a railway station in Colombo, Sri Lanka, Monday, Oct. 12, 2020. (AP Photo/Eranga Jayawardena)

The Latest: Sri Lanka orders more curfews over virus cluster

Oct. 21, 2020 11:49 PM EDT

COLOMBO, Sri Lanka — Authorities in Sri Lanka have closed the country’s main fish market and widened the curfew in many parts of the island nation following a surge of coronavirus infections related to a new cluster centered on a garment factory. The government imposed a curfew Thursday in parts of...

Editorial Roundup: Pennsylvania

Oct. 21, 2020 5:13 PM EDT

Recent editorials of statewide and national interest from Pennsylvania’s newspapers: Pay attention: Pa. is poised to fall off a budget cliff The Philadelphia Inquirer Oct. 20 Pennsylvania is staring at a fiscal cliff. It’s easy but perilous to ignore state budget minutiae amid a contentious...

In this Sept. 25, 2020 photo, President Donald Trump does a little dance after speaking at a campaign rally in Newport News, Va. Trump, a man who is famously particular about his appearance, is fully embracing doing a dad dance to the Village People's “YMCA” as the finale to his rallies in the campaign's closing stretch.  (AP Photo/Steve Helber)

Trump the dancer? His moves to 'YMCA' at rallies are a hit

Oct. 21, 2020 2:05 PM EDT

TUCSON, Ariz. (AP) — He adjusts his coat. He gazes out at the crowd. And then he goes for it. President Donald Trump, a man who is famously particular about his appearance, is fully embracing doing a dad dance to the Village People's “YMCA” as the finale to his rallies in the campaign's...

Indian laborers work at a building construction site in Gauhati, India, Monday, Oct. 19, 2020. (AP Photo/Anupam Nath)

Study: COVID speeds up human vs machine standoff over work

Oct. 20, 2020 6:01 PM EDT

GENEVA (AP) — As automation and online work gain ground, organizers of the annual Davos forum are projecting employers will split work equally between machines and people by 2025, with the coronavirus pandemic accelerating changes in the labor market. The World Economic Forum, in a report released...